OPEC has rejected U.S. calls for increased oil production, stating that the cartel's decisions are based on market fundamentals and not political considerations.

The Organization of Petroleum Exporting Countries (OPEC) has kept its global economic growth forecasts steady, with expectations of 3.1% growth in 2025 and 3.2% in 2026, according to its monthly oil ...

If demand rises with greater strength than expected in 2025, the oil price rally could be even more significant.

The EIA expects Brent crude prices to average about $74 in 2025 before dropping to $66 in 2026, as production gradually increases and global demand remains weak. OPEC+ production cuts will lower ...

Decisions made by oil producer group OPEC take a long-term view of the global markets and are aimed at providing price stability, Secretary General Haitham Al Ghais said at the India Energy Week ...

The report noted that oil ... its OPEC quota of 1.5 Mbps and is also making efforts to raise production to about two Mbps. Also, Iran’s output, which hit the highest since 2018 last year despite ...

We make a start with the situation of the US oil market. On Friday, the release of the US Baker Hughes total rig count, ...

OPEC oil output fell in January for a second month ... The modest decline in output came as the wider OPEC+ group is keeping production cuts in place until the end of March due to global demand ...

U.S. shale oil producers would get a lower oil price, lower income, and no higher production ... years. It would be very tempting for them to produce more,” he added. Rigzone has contacted OPEC ...

Oil prices jump, but can't avert fourth-straight weekly loss; OPEC meeting eyed By Investing.com - Nov 17, 2023 Investing.com -- Oil prices staged a rally Friday, but that proved too little too ...

Investing.com -- The Organization of the Petroleum Exporting Countries (OPEC) saw a decrease in oil output for the second consecutive ... Nigeria and Iran reported the most significant decreases in ...